2.) Demonstrate skill using the following methods: * Identifying the trend and seasonal effects from a time series; * Identifying the order of an ARMA time series; * Analying the time series using ARMA models; * Predicting future observations based on the principle of minimizing mean
squared errors.

3.) Develop proficiency using intermediate level statistical procedures. * Calculation of autocorrelation functions for different types of time series
models (AR, MA, ARMA) * Select the order of AR, MA, and ARMA models * Compute the prediction of AR, MA, and ARMA series.

4.) Review scientific studies that use the techniques introduced in class. * Analyze some current US economic time series and interpret the result. * Reference to advanced studies of the topic.

5.) Introduce some statistical software related to the topic and apply it to analyze
real time series. * One data project using statistical software and the models introduced in
class.